Arizona Office Technologies inked the 5.5-year, $1.6-million lease for 28,000 sf at the two-building office complex to bring the 4320 E. Cotton Center Blvd. property to 51% occupancy, Steve Mardian with Grubb & Ellis|BRE Commercial in Phoenix tells GlobeSt.com. The firm, which will combine two other Valley offices when it moves into the single-story property in September, will share the center with Inter-tel, a telecommunications company.
Mardian said the new rental puts the project on target to be fully leased by the end of the year. About 61,000 sf remains up for grabs at leasing rates ranging from 95 cents to $1 triple net. Mardian and partner Brian Lee represented the building owner, Opus West, in the transaction, with the tenant using a behind-the-scenes broker.
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